Question

Fosters and mason house, two major coffee brands, competed neck and neck based on their product attributes and price promotions. they were soon blindsided by the arrival of starcoffeez, which focused more on the coffee experience rather than the coffee. this resulted in major losses for the two companies. this is an example of ________.

Answer 1

This is an example of​ "Competitor Myopia".

Competitive myopia is characterized as an attention on a competitor or adversary that is intense to the point that it causes diversion from bigger key dangers or openings. Competitive myopia results in an outlook that says: If we simply figure out how to beat alternate folks, we'll do fine in our market. Competitive myopia is where an organization centers such a great amount around its rivals that it really overlook it's real or extensive objective.